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Taiwan to issue purchase vouchers to stimulate economy

Taiwan to issue purchase vouchers to stimulate economy Taipei  - Taiwan said Tuesday it will issue purchase vouchers to boost spending and pull the retail sector out of recession.

Premier Liu Chao-shiuan said that the government plans to allocate 82 billion Taiwan dollars (2.48 billion US dollars) to issue purchase vouchers to every citizen.

Each voucher is worth 3,600 Taiwan dollars (109 US dollars) and should be used within one year of its issuance. "We plan to issue it as soon as possible, maybe around the Chinese New Year holidays (February 2009)," he told a news conference.

Australian stocks fall on Wall Street worries

Australian stocks fall on Wall Street worries Sydney  - Fea

Australian Navy takes the summer off

Australian Navy takes the summer offSydney - Australians were shocked to learn Tuesday that the Navy ships that protect their shores were taking most of the southern hemisphere summer off so sailors could holiday with their families.

"It's about getting a culture in place that's about working smarter not harder, and I think we owe that to our people," Navy Chief Vice Admiral Russ Crane told The Sydney Morning Herald.

Having all hands off deck over December and January has incensed opposition Liberal Party defence spokesman David Johnson.

Philippine stocks plunge 3.42 per cent

Manila  - Philippine share prices plunged 3.42 per cent on Tuesday on news of massive job cuts and more economies falling into recession due to the global slump.

The 30-share composite index of the Philippine Stock Exchange lost 66.40 points to close at 1,873.60, from Monday's finish of 1,940.00.

A total of 751.83 million shares worth 1.20 billion pesos (24.48 million dollars) were traded.

Losers led gainers 85 to 8, while 26 issues were unchanged.

Traders said investor sentiments were dampened by reports that Citigroup, the second largest US bank, cut 52,000 jobs in a bid to save itself.

Japan postpones decision on extending military refuelling mission

Japan postpones decision on extending military refuelling mission Tokyo  - A House of Councillors panel on Tuesday postponed deliberations on a bill to extend a counterterrorism refuelling mission that Japan is conducting in the Indian Ocean as the main opposition Democratic Party of Japan (DPJ) boycotted a vote.

Because deliberations on other bills were also postponed, the parliamentary session might be prolonged past November 30, when it was scheduled to adjourn.

Prayer shocks Philippine leader amid impeachment bid

Manila  - Philippine President Gloria Macapagal Arroyo was caught off guard on Tuesday when her press secretary prayed for a possible extension of her term beyond 2010 as lawmakers debated on an impeachment complaint against her.

Arroyo and her cabinet often start their meetings with a prayer, which is led by different officials.

But the prayer by Press Secretary Jesus Dureza shocked Arroyo for touching on a sensitive political issue, with many critics warning of alleged plans for the president to hold on to power beyond the end of her term in 2010.

"We pray for the president, that she may have forbearance, good health and tolerance to lead this nation until 2010, and who knows, perhaps even beyond," Dureza said.

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